Rock Springs is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Rock Springs are considered greater risk due to market dynamics. Interest rates for multifamily loans in Rock Springs are higher than the national average. Rock Springs apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Rock Springs.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rock Springs are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Rock Springs.
The city of Rock Springs in Sweetwater County has a population of 22,653. The median rent in Sweetwater County for a 2 bedroom is $906. The median Rock Springs resident is 34 years old with a yearly income of $38,379. The average family has 3.37 members and a median household income of $76,722. Rock Springs has a 27% higher education rate. The unemployment rate in Rock Springs is 4.9%.
25.6% of Rock Springs households are renters.
24.1% median household income spent on rent.
Bedrooms |
Sweetwater County 1 |
Wyoming 2 |
National 2 |
|---|---|---|---|
| Studio | $707 | $682 | $737 |
| 1 bedroom | $778 | $718 | $813 |
| 2 bedroom | $906 | $896 | $1,015 |
| 3 bedroom | $1,297 | $1,212 | $1,325 |
| 4 bedroom | $1,569 | $1,504 | $1,521 |
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